Shopify Integrates More NFT-Gated Options For Online Retailers
Shopify platform is giving retailers on the platform a new way to connect with customers, through NFT-related options.
Shopify started allowing merchants to create custom e-commerce shops, and is launching NFT-gated storefronts as a new feature for brands looking to make their stores more exclusive. These new integrations are intended to help Shopify increase its connection with its existing users.
🪙 Tokengated Experiences
Ready to give superpowers to your most loyal fans?
Build even stronger communities around your brand and reward your people by unlocking exclusive shopping experiences. Think limited-edition merch drops, discounts, and much more (oh hey @doodles). pic.twitter.com/gyq5iu2GRH
— Shopify (@Shopify) June 22, 2022
“Token holders connect a crypto wallet to unlock exclusive shopping experiences, from early access to drops and limited collections to one-of-a-kind experiences and other surprises,” the video explains.
The online shopping giant is leaning into NFTs to differentiate themselves and make them the future of online shopping.
Now, merchants can create a token gate store on the Shopify app or add the feature directly in the store. Buyers then need to connect a wallet, verify NFT ownership, and start shopping from the comfort of their homes. Store owners can mint (create) NFT on Ethereum (ETH), Polygon (MATIC), Solana (SOL), and Flow (FLOW). Then list and sell them right on the store itself.
In particular, both sellers and buyers do not need to pay in crypto but can transact with each other through Shopify Payments, Shop Pay, credit, or debit card.
The online shopping giant revealed it has partnered with many of the Adam Bomb Squad, Doodles, World of Women, Invisible Friends, Superplastic, Stapleverse, and Cool Cats NFT collections to create token-gated storefronts.
In addition to online token-gating, Shopify is adding “IRL” token-gating at brick-and-mortar stores, meaning that only eligible NFT holders can purchase select merch at that physical location.
This isn’t Shopify’s first foray into NFT. The company has been in the Web3 business for a while – the platform directly assisted customers in selling NFTs last July. Shopify recently partnered with Strike to facilitate Bitcoin-to-cash payments through the Lightning Network.